Bulgaria sells MDK copper smelter

Article Abstract:

Union Miniere (UM) has agreed to pay US$80 million for a 56% share in the MDK copper smelter at Pirdop, Poland. UM will also invest another $200 million to finance the building of another refinery. The World bank is willing to help finance any necessary environmental improvements. Other companies are being prepared for privatisation because foreign money is an important source of revenue for Bulgaria, and consultants, paid for by the EU are overseeing the privatisation of 25 companies.

Primary copper, Copper, Primary Smelting and Refining of Copper, Stocks & Other Equity Securities, Mergers, acquisitions and divestments, Mining industry, Economic policy, Copper products, Union Miniere

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High summer of activity in Bulgaria

Article Abstract:

A number of key privatisation deals were undertaken by the Bulgarian privatisation agency over summer 1996. These included the sale of 70% of Sofia Interpred World Trade Centre to Bulgarian holding concern Maxcom Hold and 12 individual businesses and the sale of 55% of office supplies concern Hemus to the Balkan-Invest company for $2.98 million. Revenues from privatisations in the period Jan-Aug 06, 1996, amounted to $77 million.

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Bulgaria outlines rules

Article Abstract:

Basic rules for the privatisation of state-owned companies in Bulgaria have been adopted by the government, including the sale of voucher books to citizens. Cash deals are also envisaged, and there is an initial list of around 200 companies to be privatised. The shares will be priced differently for sales against vouchers and when offered on the market.

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